Dollar / TL Has Deteriorated its Stable Course
The dollar / TL, which saw 6.9835 on the first trading day of the week and then returned to the range of 6.86 – 6.88, rose to 6.96 again in the afternoon transactions today.
The Turkish Lira depreciated against the dollar on Monday, then returned to its former stable course. The dollar / TL, which rose to 6,9835 on the first trading day of the week and then fell to 6.86-6.88, maintained this level during the opening on Tuesday. However, the dollar / TL exchange rate, which recorded an increase of 1 percent in the afternoon, reached the level of 6.96 again.
The dollar rate gained momentum again after seven days of depreciation against major market currencies. The Dollar Index (DXY), which measures the global value of the US Dollar, has risen over 94 today, after falling from 96.2 to 93.47 in a week.
The uncertainty pressure created by the uncontrollable epidemic on the global recovery also causes sales in risky assets. Only 3 of the 24 emerging market currencies followed by Bloomberg rose against the dollar on Tuesday, while the Turkish Lira is the most losing market currency.
The dollar / TL was traded at 6.9650 with an increase of 1.7 percent at 13:10 on TSI. It has been in a narrow band since mid-June until today. Nevertheless, the Euro / TL exchange rate reached its all-time high on Monday evening at 8.2178. The currency basket was recorded as 7.5734. The highest intraday level in the basket was seen in August 2018 at 7.6181.